Deutsche Bank Maintains Hold on Jabil Circuit

Deutsche Bank is out with its report today on Jabil Circuit (NYSE: JBL), maintaining Hold.

In a note to clients, Deutsche Bank writes, "JBL's F3Q-11 results beat Street estimates, with E&I and DMS beating expectations. Guidance for F4Q-11 was below the Street, largely due to weakness in the HVS segment, which derives a substantial portion of revenue from RIMM. Based on strong growth and FCF generation, JBL introduced a $200M share repurchase program. We have tweaked our estimates and introduced FY-13 numbers. With little change to our numbers, we keep our $20 PT. At current levels, shares are fairly valued versus peers, maintain Hold."

At the time of posting, shares of JBL were trading pre-market at $19.10, up 1.33% from Tuesday's close.